Gazprom to Challenge Lithuanian Court’s Defiance of Arbitration

Co. plans to challenge Lithuanian Court of Appeal ruling on refusal to recognize July decision by Stockholm arbitration court, Gazprom says in statement.

  • Co. says Lithuania violating foreign investor rights, questions country’s willingness to fulfill international obligations
  • NOTE: See Dec. 17 story: Lithuanian court refused to recognize Stockholm court decision that shareholders’ agreement precluded govt from suing Gazprom in national courts
  • NOTE: Court of Appeal said its decision could be appealed to Lithuania’s Supreme Court within 30 days
  • NOTE: Lithuania has sought help of courts to force gas utility Lietuvos Dujos to negotiate a better price for natural gas from Russia, country’s only source of the fuel
  • NOTE: Gazprom, EON control Lietuvos Dujos; Lithuania’s Energy Ministry owns 18%

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